Patreon Raises $2.1 Million in Financing

Within just three months of launching, Patreon Inc. has raised $2.1 million in angel and venture financing. Investors include Freestyle Capital, Charles River Ventures, Reddit cofounders Alexis Ohanian and Tyler Will, and more.

Patreon, founded by Jack Conte and Sam Yam, enables fans to pledge small sums of money, as little as up to a dollar, in support of artists, including musicians, comic book artists, photographers, and video creators. Currently boasting 2,300 artists who have signed up to use the Patreon platform, the website generate about $100,000 pledges a month.

The main idea of Patreon is to provide a revenue stream for artists who aren’t launching huge projects but generating one video or song at a time.